Italian economy to rebound soon

Italian economy posted a steady growth rate of 0.3% qoq in Q3. The economy recorded same growth rate in Q2 also. The GDP report indicates the economy is likely to rebound in H2. 

The industry activity of the economy edged up by 0.4% qoq in Q3. The figure is marginally below the Q2 reading but shows an improvement compared to previous year. 

There is slight improvement in services headline PMI, the sector prints around 53.3 in Q3 against 53.0 in Q2.

"Going forward, we are looking for more of the same trend, with the impact of the drop in commodity prices, the various tax cuts promoted by the government, and the sustained recovery elsewhere continuing to be felt", says Societe Generale.